J.P. Morgan Access
®
38
Payment Methods Description
Wire
(includes: Book Transfer and Bank
Drafts/Checks
Instructions that relay information about the movement of funds between global accounts held at J.P. Morgan and at financial institutions
other than J.P. Morgan. These instructions define the payment, including the amount and currency, the Bank ID and account number, the
ultimate beneficiary and certain other parties, and supporting details and messages.
• Book Transfer is a type of wire transfer used when the transaction beneficiary also holds an account at the same J. P. Morgan branch.
The Book Transfer method has later cut-off times and faster payment processing.
• Bank Drafts/Checks are paper payments that relay information about the movement of funds between global accounts held at J.P.
Morgan and other financial institutions. These instructions define the payment, amount, currency, Bank ID, account number, ultimate
beneficiary and supporting details and messages.
• Bank Drafts/Checks can only be initiated with demand deposit account (DDAs)—not from virtual transaction accounts (VTAs).
Common Payment Reports Description Additional Information
View Account Balances Allows user to view account balances To disable, click on the Action button
Approve/Release Transactions Post Cut Off
Allows the value date to be changed and a payment to be released without
restarting the approval process after the cut-off date has passed
View Daily Payment Activity (Excludes ACH)
Allows user to view both payment and any daily limits for each payment
function, as well as any available amounts remaining before limits are reached
To enable, click on the Action button
View Confidential Transactions Allows user to view confidential transactions
Common ACH Functions Description Additional Information
Manage ACH Detail Import Maps Allows a user to Create, Modify or Delete Maps used for ACH Detail Imports Manage ACH Detail Import Maps
Import ACH Detail Records
Allows a user to use the import function on a template whether importing into
a template or creating a payment from a template
Import ACH Detail Records
• Payment Creation Methods: User entitlements for create, delete and approve are for creation methods Payments From Template and/or Freeform Payments.
• Approve/Approve Own and Release/Release Own:
o Users with ACH entitlements to Approve
and
Approve Own translates to no approvals required.
o Users with Account Transfer entitlements to Create, Approve, Approve Own, Release and Release Own translates to a single-touch payment—no approval or
release required.
o Users are not able to release wire payments that they created themselves even if another user approves the payments. If a user should be allowed to release
their own payments, they will need an additional entitlement of Release Own.
If you are entitling a user to make Wire payments from a multibank account, the entitlement is not immediately effective. If the user attempts to release a multibank
payment during the setup period, the payment will fail in the back office.